Value of gold with RBI rises 57.12 pc to ₹4.32 lakh crore in FY25: Central banks report
Mumbai, May 29 (PTI) The value of gold (including gold deposit) held as asset of Reserve Bank increased by 57.12 per cent to ₹ 4,31,624.8 crore as on March 31, 2025, mainly on account of addition of 54.13 metric tonnes of precious metal and increase in its prices.
The value of gold held as asset of Banking Department was ₹ 2,74,714.27 crore as on March 31, 2024.
"As on March 31, 2025, total gold held by the Reserve Bank was 879.58 metric tonnes as compared to 822.10 metric tonnes as on March 31, 2024 reflecting an increase of 57.48 metric tonnes of gold during the year," said the RBI's annual report released on Thursday.
Of 879.58 metric tonnes as on March 31, 2025, 311.38 metric tonnes of gold is held as an asset of the Issue Department as compared to 308.03 metric tonnes as on March 31, 2024, it said.
The remaining 568.20 metric tonnes as on March 31, 2025 is treated as asset of the Banking Department as compared to 514.07 metric tonnes on March 31, 2024.
"The value of gold (including gold deposit) held as asset of Banking Department increased by 57.12 per cent from ₹ 2,74,714.27 crore as on March 31, 2024 to ₹ 4,31,624.80 crore as on March 31, 2025," the report said.
The increase is on account of addition of 54.13 metric tonnes of gold and also due to increase in price of gold and depreciation of INR vis-à-vis USD, said the annual report for 2024-25.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
8 minutes ago
- Hans India
Hyundai Motor India Foundation Inaugurates Adhikaar Connect Kendra in Gurugram
Hyundai Motor India Foundation (HMIF), the CSR arm of Hyundai Motor India Limited (HMIL), inaugurated the Adhikaar Connect Kendra in Gurugram, Haryana, under its social inclusion initiative - Project Adhikaar. The centre aims to strengthen the efforts by enabling digital access to empower citizens to avail their rightful entitlements under various central and state welfare, and social security schemes. The centre is expected to unlock government benefits worth INR 200 crore over the next three years by offering personalized assistance to citizens, including eligibility screening, documentation support, and application facilitation for a wide array of central and state welfare schemes. With a vision to positively transform over 90,000 lives by 2028, the centre will offer end-to-end support, including eligibility screening, application processing and real-time entitlement tracking, facilitated by a cadre of trained female community entrepreneurs known as Adhikaar Sakhis, besides male volunteers. Commenting on the launch of Adhikaar Connect Kendra, Puneet Anand, AVP & Vertical Head - Corporate Affairs, Corporate Communication & Social, HMIL said, 'The inauguration of Adhikaar Connect Kendra in Gurugram marks a pivotal step in our journey towards building a more equitable and empowered society. Through this initiative, we aim to bring dignity, simplicity, and transparency to every citizen's interaction with government welfare schemes, unlocking rightful benefits worth over INR 200 crore over the next three years. This effort goes beyond access; it is about enabling self-reliance and long-term empowerment. We believe when individuals are informed, supported, and digitally included, they are better equipped to shape their own futures, and this is the transformation we are committed to driving through Project Adhikaar.' Each beneficiary will be issued a Yojana Card - A dignified digital identity enabling real-time access to benefits and record-keeping. The Adhikaar Connect Kendra will also function as a knowledge and empowerment hub, offering services such as digital tools, financial literacy training, and skilling programs to help citizens in their journey of empowerment. Speaking at the launch of Adhikaar Connect Kendra, Ajay Kumar, Deputy Commissioner, Gurugram, Haryana said, 'Today marks a significant step towards inclusive governance and social empowerment in Gurugram. With the launch of the Adhikaar Connect Kendra, there is now a robust mechanism to bridge the gap between the people and the public welfare schemes meant to uplift them. Far too often, awareness and access have been barriers for the deserving and this initiative changes that, ensuring no eligible citizen misses out on their rightful benefits. I commend the vision of Hyundai Motor India Foundation to support this initiative that will have a huge impact on the lives of people, and I urge every resident to take full advantage of the services available to them.' This jointly curated initiative is being implemented on-ground through Haqdarshak Empowerment Solutions Private Limited, HMIF's trusted implementation partner for this project. Haqdarshak brings deep expertise in delivering last mile welfare delivery through digital and human assisted models. The community-based approach, backed by strong technology infrastructure and trained field agents plays a pivotal role in identifying beneficiaries, onboarding Adhikaar Sakhis, and ensuring end-to-end support for citizens through the Kendra. With the launch of Adhikaar Connect Kendra, a new chapter begins in the journey towards accessible governance and citizen-first service delivery. As the centre opens its doors to the people of Gurugram, Haryana, it stands as a symbol of what is possible when innovation, inclusion, and intent come together.
Time of India
16 minutes ago
- Time of India
Qantas Shuts Down Jetstar Asia: 500 Jobs Lost Amid Rising Costs and Competition, ET TravelWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETTravelWorld App Get Realtime updates Save your favourite articles Scan to download App Australia's Qantas Airways will close its Singapore-based budget airline Jetstar Asia, the group said on Wednesday, blaming rising supplier costs, high airport fees and strong regional shutdown of the 20-year-old airline next month will result in the loss of up to 500 jobs, a Qantas spokesperson said, and Jetstar Asia's fleet of 13 Airbus A320 planes will be redeployed to Australia and New across Asia, including budget rivals like Singapore Airlines ' Scoot, Malaysia-headquartered AirAsia and Vietnam's VietJet Aviation, have restored and grown their capacity post-pandemic, intensifying competition between carriers and driving airfares Asia, which operated 16 intra-Asia routes from Singapore's Changi Airport, has faced growing challenges in recent years and has been unable to deliver returns comparable to stronger-performing core markets within the Qantas group, the company airline has seen "really high cost increases" at its Singapore base, including double-digit rises in fuel, airport fees, ground handling and security charges, Jetstar Group CEO Stephanie Tully told Asia, which Tully said reported profits in only six of its 20 years of operation, is expected to post an underlying loss of A USD 35 million (USD 22.76 million) before interest and tax in the financial year ending June airline said Jetstar Asia's closure would release up to A USD 500 million to be recycled into its core businesses based largely on the value of the 13 planes, including the ability to replace costly leased aircraft that Australia's Jetstar Airways is using Asia will gradually reduce its schedule before closing on July 31, and customers on cancelled flights will be offered full refunds and moved onto other airlines where said it would take a one-off financial hit of about A USD 175 million from Jetstar Asia's closure over two financial years. Qantas shares were trading about 1 per cent lower. The group said on Wednesday it continues to see strong demand across its domestic and international WOESTully said Jetstar Asia's cost base was hit particularly hard in the last 18 months to two the world's fourth-busiest airport by international passengers, is steadily raising charges from this year through 2030 to fund investments and higher operating airport in March 2023 moved Jetstar Asia's operations from Terminal 1 to Terminal 4, the only terminal not connected by train to the other terminals, despite the airline's objections."We think it has had an impact on the business," Tully said in a statement it was disappointed by Jetstar Asia's decision to exit Singapore but respected its commercial Asia accounted for around 3 per cent of the airport's passenger traffic last year. Changi said it would work with other airlines to fill capacity gaps, including on four routes that no other carrier currently NEW ZEALAND FOCUSInternational operations at Qantas' other budget carriers, Jetstar Airways and Japan-based Jetstar Japan, will not be affected, the airline of Jetstar Asia's 13 narrow-body aircraft will replace leased aircraft at Jetstar's Australian operations, while four will replace ageing planes Qantas uses to serve the mining planes will be deployed to Jetstar in Australia and one in New Zealand to grow capacity and potentially launch new routes, the airline said, in a move that will create more than 100 local jobs. Employees losing jobs in Singapore will get redundancy benefits and support to find jobs within the Qantas group or other biggest trade union, the National Trades Union Congress, said it was aware of the Jetstar Asia closure ahead of the announcement and was working with Singapore Airlines, the Civil Aviation Authority of Singapore and Changi Airport to find new employment opportunities for the airline's Airlines said it had set up channels for Jetstar staff to expedite applications for employment within the airline group.
India Gazette
19 minutes ago
- India Gazette
US faces steeper crude oil production decline than previously anticipated: S&P Global Commodity Insights
New Delhi [India], June 11 (ANI): The US is facing a deceleration of crude oil production growth in 2025 than previously anticipated, according to a new analysis by S&P Global Commodity Insights. The global commodities information services provider projects a sharper year-on-year overall production decline in 2026 in the US than previously anticipated. The latest S&P Global Commodity Insights Global Crude Oil Markets Short-term Outlook finds that the US, which has been the biggest source of global supply growth in recent years, will be 'disproportionately impacted' by a combination of sluggish global oil demand growth and supply surplus. Following the most recent decision by OPEC+ members to proceed with the accelerated unwinding of production cuts, along with supply growth elsewhere, year-on-year global crude oil (and condensate) production growth is expected to be 2.2 million barrels per day for the second half of 2025, compared to just 390,000 barrels per day of expected crude oil demand growth. S&P Global Commodity Insights said that annual global total oil (liquids) demand growth for 2025 is expected to be the weakest since 2001, excluding the economic downturn during the 2008-09 financial crisis and the COVID-19 pandemic in 2020, averaging 770,000 barrels per day. The S&P report has revised down the crude oil price outlook, with Dated Brent ranging from the mid-USD 60s per barrel to USD 50 per barrel or below for a time (low USD 60-upper USD 40s for WTI). Jim Burkhard, Vice President and Global Head of Crude Oil Research, S&P Global Commodity Insights, states, 'The oil price is currently defenseless. Seasonal demand in the northern hemisphere summer may obscure the impact for a bit, but eventually there will be too much crude oil in the market absent a change in production trends.' The report asserted that the US is expected to bear the brunt of the impacts from an oversupplied market compared to other sources of non-OPEC supply, such as Canada, Guyana, and Brazil. 'The United States has been the biggest source of supply growth in recent years and a factor in OPEC+ supply restraint. Signs of weak U.S. crude supply growth and decline could begin to alter oil market psychology. However, much will still depend on the future course of OPEC+ production and oil demand,' said Ian Stewart, Associate Director, S&P Global Commodity Insights. (ANI)
